The National Bank of Ukraine has decided to maintain the discount rate at 15%. The decision was announced by the head of the NBU, Andriy Pyshny, during a briefing.
This is reported by Finway
Reasons for Maintaining the Discount Rate
The head of the National Bank emphasized that the regulator decided not to ease the monetary policy due to existing risks of increasing inflationary pressure and worsening inflation expectations. This will help maintain the attractiveness of hryvnia financial instruments, ensure the stability of the currency market, and control inflationary processes.
“The Board of the National Bank of Ukraine has decided to keep the discount rate at 15%. The NBU is postponing further easing of monetary policy due to the risks of increasing inflationary pressure and worsening inflation expectations,” noted Pyshny.
Impact of the Decision on the Economic Situation
According to Andriy Pyshny, this decision will help maintain interest in hryvnia assets, as well as support stability in the currency market and control the inflation level despite economic and geopolitical uncertainty. He emphasized that this decision will not hinder the further development of lending, as the growth rate of lending exceeds 30% year-on-year.
Furthermore, the head of the NBU noted that in the event of continued or increased risks to price stability, the regulator will refrain from further easing monetary policy. If necessary, the National Bank is ready to raise the discount rate and implement additional measures to curb inflation.
It is worth noting that in January 2022, the National Bank raised the discount rate to 10%. In June 2022, it was increased from 10% to 25%. The rate remained at this level for over a year, and since July 27, 2023, a gradual reduction began. Since January 2026, the rate has been set at 15%.